Portland, OR, June 10, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global UV disinfection equipment industry has garnered $1.1 billion in 2018 and is projected to reach $3.4 billion by 2026, at a CAGR of 15.0% from 2019 to 2026. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Cost efficiency compared to other disinfection methods, increase in concerns regarding safe drinking water, the emergence of UV LED to save energy, and new government initiatives augment the growth of the global UV disinfection equipment market. On contrary, low cost of conventional disinfectant and lack of residual ability of UV LED restrain the growth to certain extent. However, millennium development goals of the UN and need for air treatment on healthcare and chemical industries are anticipated to usher a number of opportunities in the near future.
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COVID-19 Scenario:
- The global UV disinfectant equipment companies are dealing with the instantaneous impact of COVID-19, as both their manufacturing and supply chain maneuvers have been disrupted.
- Disruptions in the supplier network have led to a decrease in the demand, thereby affecting further projects and plans.
- However, with added focus on economic benefits, certain regions have imposed relaxations on the restrictions.
This global UV disinfection equipment market is segmented based on end use industry, application, component, marketing channel and region. Based on component, the UV lamp segment is expected to portray the fastest CAGR of 15.6% during the forecast period. Whereas, the controller unit segment held the largest share in 2018, accounting for nearly one-third of the global UV disinfection equipment market.
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Based on end-use, the residential segment held the lion's share in 2018, contributing to more than two-fifths of the global UV disinfection equipment market. However, the commercial segment is expected to manifest the fastest CAGR of 15.8% during the forecast period. The report also includes industrial segment.
Based on region, the global UV disinfection equipment market across North America dominated in 2018, contributing to more than one-third of the market. However, the market across Asia-Pacific region is expected to register the fastest CAGR of 15.6% during the study period. The report also analyzes regions including Europe and LAMEA.
The key market players in the UV disinfection equipment industry include Australian Ultra Violet Services Pty. Ltd., American Ultraviolet, Xenex, Atlantic Ultraviolet Corporation, Halma Plc, Xylem Inc, Danaher Corporation, Kuraray Co. Ltd., Severn Trent Plc, and Koninklijke Philips N.V.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.